The median rent charged in Dubbo overall was $360, Orange was $350 per week and Bathurst $340. 

The median rent charged on a three bedroom house in Dubbo was $340 per week compared to Orange $345 and Bathurst $350.

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Dubbo real estate agent Bob Berry said the rise in rent was due to a robust local economy.

“The rent prices reflect the fact that there is plenty of growth in the economy, growth in jobs and presumably a growth in our population,” he said.

“People are willing to pay more for rent in Dubbo even though we are told wages are flat and that may come down to supply and demand.”

Property analysts CoreLogic’s data said 1008 homes sold in Orange to the end of June –compared to 828 in Bathurst and its regional areas, 795 in Dubbo and 457 in the Mudgee and Midwestern council areas.

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Mr Berry said property investors see Dubbo as a good investment due to house affordability and the rental returns on offer.

“We’ve just had a record year in house sales, a good percentage of them were investors, they may have bought in this market because of the good rental return they would get from an investment property in Dubbo,” he said.

“If you look at the market you’d generally pay more for the same type of house in Orange or Bathurst, so investors buy a property here, we’ve always been very affordable as a housing market, if you add the median rent compared to what you pay for a house it equates to an extremely good return.

“We find more people are looking to rent and the market dictates what people are willing to pay and that may have something to do with why rent prices are up.”